Marvell Technology, Inc., together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors. The company also provides a range of storage products comprising storage controllers for hard disk drives (HDD) and solid-state drives that support various host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, non-volatile memory express (NVMe), and NVMe over fabrics; and fiber channel products, including host bus adapters, and controllers for server and storage system connectivity. It has operations in the United States, China, Malaysia, the Philippines, Thailand, Singapore, India, Israel, Japan, South Korea, Taiwan, and Vietnam. Marvell Technology, Inc. was incorporated in 1995 and is headquartered in Wilmington, Delaware.
Marvell Technology Price Performance
MRVL Stock traded down $1.09 during trading on Tuesday, reaching $54.39. The company's stock had a trading volume of 19,891 shares, compared to its average volume of 10,033,089. The company's fifty day moving average is $50.27 and its 200-day moving average is $59.40. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.29. Marvell Technology has a 1 year low of $41.07 and a 1 year high of $93.85.
Marvell Technology (NASDAQ:MRVL - Get Rating) last announced its quarterly earnings results on Thursday, May 26th. The semiconductor company reported $0.37 EPS for the quarter, meeting analysts' consensus estimates of $0.37. Marvell Technology had a negative net margin of 9.82% and a positive return on equity of 6.92%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm earned $0.15 EPS. The firm's revenue for the quarter was up 73.8% compared to the same quarter last year. Analysts predict that Marvell Technology will post 1.69 EPS for the current year.
Marvell Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Stockholders of record on Friday, July 8th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, July 7th. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. Marvell Technology's payout ratio is currently -39.34%.
Wall Street Analyst Weigh In
MRVL has been the subject of a number of recent analyst reports. Cowen lowered their target price on shares of Marvell Technology from $100.00 to $85.00 and set an "outperform" rating for the company in a report on Friday, May 27th. Benchmark started coverage on shares of Marvell Technology in a research note on Wednesday, August 3rd. They set a "buy" rating and a $70.00 target price for the company. Oppenheimer lowered their target price on shares of Marvell Technology from $110.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, May 20th. Needham & Company LLC lowered their price target on shares of Marvell Technology from $105.00 to $75.00 in a research report on Friday, May 27th. Finally, BMO Capital Markets decreased their target price on shares of Marvell Technology from $98.00 to $82.00 in a research report on Friday, May 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.41.
Insider Transactions at Marvell Technology
In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the company's stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $60.10, for a total value of $1,803,000.00. Following the completion of the transaction, the chief executive officer now owns 672,052 shares in the company, valued at $40,390,325.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Matthew J. Murphy sold 30,000 shares of the company's stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $60.10, for a total transaction of $1,803,000.00. Following the completion of the sale, the chief executive officer now owns 672,052 shares of the company's stock, valued at approximately $40,390,325.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Loi Nguyen sold 872 shares of the company's stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $60.00, for a total transaction of $52,320.00. Following the completion of the transaction, the executive vice president now owns 207,727 shares in the company, valued at $12,463,620. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,384 shares of company stock worth $3,230,310. Company insiders own 0.45% of the company's stock.